Bank of America offers several credit cards for those seeking to make the most out of their spending with travel and cash-back rewards. When handled responsibly, you can use credit cards to your advantage by racking up rewards that may help pay off your next credit statement or a future vacation.
There are a few key factors some of the best Bank of America credit cards have in common, like excellent customer service, card security, fraud protection, low fees and reasonable APRs. Bank of America’s Preferred Rewards program allows eligible cardholders to earn between 25%-75% more rewards on their spending, creating an incredibly generous rewards card for some. Throw in factors like no annual fees, generous welcome bonuses and flexible redemption options and you’ve got an outstanding selection of credit cards.
We analyzed Bank of America’s credit card offers to curate a list of the very best. When reviewing this list, keep in mind that there may be cards by other issuers that are a better fit for your particular needs. Here are our selections.
Best Bank of America credit cards of 2023
Compare the best Bank of America credit cards
Best for cardholders with varied spending: Bank of America® Customized Cash Rewards credit card
Card highlights
Earn 3% back on the category of your choice and 2% at grocery stores with no annual fee. It’s a good choice for someone looking for a no-annual-fee cash-back card offering maximum rewards where they spend most.
Annual fee: $0
Rewards: Earn 3% in a category of your choice, 2% at grocery stores and 1% on all other purchases.
Welcome bonus: $200 cash reward bonus after spending at least $1,000 within the first 90 days of the account opening.
Foreign transaction fees: 3% fee per transaction.
Other benefits and drawbacks: One major benefit to this card is its flexibility—credit card users can choose a category where they spend the most and can change categories each month as their spending changes. However, the card isn’t the best for bigger spenders since the higher rewards rates are capped at a combined $2,500 each quarter.
Best travel rewards card: Bank of America® Premium Rewards® credit card
Card highlights
Earn 2 points per dollar spent on dining and travel and a better-than-average 1.5 points per dollar everywhere else. While the card does have a modest annual fee, rewards can easily add up to much more value if you use the card regularly.
Annual fee: $95
Rewards: Unlimited 2 points for every dollar spent on travel and dining purchases and unlimited 1.5 points for every dollar spent on all other purchases.
Welcome bonus: Card users receive 50,000 points after spending at least $3,000 within the first 90 days.
Foreign transaction fees: None.
Other benefits and drawbacks: The Bank of America Premium Rewards card provides multiple travel protections and points redemption through its Travel Center. Unfortunately, users can’t convert their points to any airline or hotel loyalty program partners.
Best for simplicity: Bank of America® Unlimited Cash Rewards credit card
Card highlights
With a flat 1.5% cash back on all purchases and no annual fee, this card is a good option for anyone who wants a simple cash-back card with no rotating or bonus categories to keep track of.
Annual fee: $0
Rewards: 1.5% cash back on all purchases.
Welcome bonus: $200 cash reward bonus after a user spends at least $1,000 within the first 90 days.
Foreign transaction fees: 3% fee per transaction.
Other benefits and drawbacks: Some credit cards cap their rewards rates, but the sky is the limit with Unlimited Cash Rewards card. Although no bonus categories are offered, the simple rewards system can be attractive to users who want cash back without complications.
Best travel rewards card for students: Bank of America® Travel Rewards credit card for Students
Card highlights
Students looking to earn travel rewards points without worrying about bonus categories may enjoy this simple travel rewards card with no annual fee.
Annual fee: $0
Rewards: Unlimited 1.5 points per dollar spent on all purchases
Welcome bonus: Cardholders can earn 25,000 bonus points after they spend at least $1,000 within the first 90 days.
Foreign transaction fee: None
Other benefits and drawbacks: Students who love to travel are the best fit for this card’s features. There’s also an extensive introductory APR period on top of a generous welcome offer.
Best cash-back card for students: Bank of America® Unlimited Cash Rewards credit card for Students
Card highlights
Students can earn 1.5% cash back on all purchases with no limits. This no annual fee card is great for learning to use credit responsibly while earning valuable rewards on every purchase.
Annual fee: $0
Rewards: Cardholders earn 1.5% unlimited cash back on all purchases
Welcome bonus: Receive a $200 cash rewards bonus after making at least $1,000 in purchases within the first 90 days.
Foreign transaction fee: 3% fee per transaction.
Other benefits and drawbacks: Students can redeem their cash back rewards as a deposit into a savings, checking, or Merril investment account or as a credit statement.
Best for a low intro APR: BankAmericard® credit card
Card highlights
A simple card with a lengthy introductory APR period is best for those who want the convenience and protection of a credit card with no annual fee.
Annual fee: $0
Rewards: None
Welcome bonus: None
Foreign transaction fee: 3% fee per transaction.
Other benefits and drawbacks: Individuals who need relief from credit card interest will benefit from the card’s 0% introductory APR for 21 billing cycles on purchases and balance transfers; then a variable APR of 15.49% to 25.49% applies.
Best secured cash-back card: Bank of America® Unlimited Cash Rewards Secured credit card
Card highlights
A simple cash back card for those new to credit or looking to rebuild credit. Earn 1.5% cash back on all purchases with no annual fee.
Annual fee: $0
Rewards: Cardholders earn 1.5% unlimited cash back on all purchases.
Welcome bonus: None
Foreign transaction fee: 3% fee per transaction.
Other benefits and drawbacks: The card is a great tool to build one’s credit but does require a minimum $200 deposit and has no welcome bonus for first-time cardholders.
Should you get a Bank of America credit card?
“From building credit to maximizing rewards, credit cards are tools that, when used responsibly, can bring substantial value into your personal financial planning. Bank of America offers a wide range of credit cards with flexible earning structures —including cash back, travel and points credit cards—that reward cardholders for their everyday spending while providing best-in-class digital tools and security features. Beyond earning rewards, Bank of America has many credit card offerings—like student and secured cards—that are also ideal for people who are just starting out on their financial journey, looking to build credit or are prioritizing low annual interest rates,” says Jason Gaughan, head of consumer credit card products at Bank of America.
Bank of America offers various credit cards for individuals, whether they are college students or world travelers. People should know before applying what they are looking to gain from each credit card. The need for interest relief from some applicants will bring them to a different choice than folks who only want cash back.
The majority of Bank of America’s business cards come with no annual fee and easy-to-understand reward structures. The most significant barrier to getting a Bank of America personal credit card is that most require a good to excellent credit score.
Guide to Bank of America credit cards
People interested in getting a new credit card should focus on their spending habits and lifestyle before applying for a Bank of America credit card, as so many options are available. You’ll also need to know your personal credit score when applying.
Once you know exactly what kind of card you are looking for and which ones you may qualify for, the ideal credit card will be a more obvious choice. Bank of America’s application process can be as fast as 60 seconds for approval, but some applications may take longer.
Comparing Bank of America credit cards
There are numerous credit card options from Bank of America, which makes its card comparison tool really handy. The tool lets anyone compare credit cards side-by-side to find their perfect fit.
When comparing cards, you’ll want to look at features such as rewards, APR, fees, welcome bonuses, annual fees and additional perks or benefits. Again, this is where knowing your personal spending habits and goals can make it easier to narrow down which card is right for you.
Who is Bank of America best for?
With so many available options, Bank of America credit cards can suit almost anyone, especially those who want to be associated with an established, FDIC-insured banking institution. Bank of America Preferred Rewards is another draw, making these cards better for those already banking or investing with Bank of America.
Bank of America Preferred Rewards program
Bank of America has a Preferred Rewards program for clients in good standing to encourage more business. This program rewards eligible customers with more reward points, increased interest rates on deposit accounts and reduced fees. A significant portion of Bank of America credit cards are eligible for the rewards program and cardholders can receive tier-based bonuses with varying levels of benefits.
How to maximize Your Preferred Rewards
To qualify for Preferred Rewards, you must have a Bank of America checking account and a combined total three-month average of $20,000 or more in any Bank of America deposit or Merrill investment accounts.
Once a Preferred Rewards member, you can earn anywhere from 25% to 75% more points or cash back with qualifying rewards cards. Student and secured cards are not eligible for Preferred Rewards.
Bank of America’s Preferred Rewards program comes in four tiers—Gold, Platinum, Platinum Honors and Diamond—with varying benefits. The higher the tier, the better the benefits. Each tier is determined by how much money you hold in your Bank of America and Merrill accounts. As your account balances grow, so will your tier status.
How to apply and qualify for a Bank of America credit card
Before applying for a credit card, you should know your credit score and have your basic information handy, such as your Social Security number, driver’s license number, total annual income and more. You can apply by phone at 1-800-932-2775, or by visiting Bank of America’s website.
Methodology
Our credit cards team has spent hours analyzing hundreds of credit cards. We took a deep dive into the details of each product. That analysis, combined with our years of experience covering credit cards, informed us as we developed these credit card rankings. We looked across the entire range of Bank of America consumer credit cards and chose the best ones for a variety of consumers, ranging from rewards rates, simple flat-rate earnings, 0% APR periods, secured cards and cards aimed at students, who typically have less-robust credit profiles and need a card tailored to their circumstances.
Frequently asked questions (FAQs)
Bank of America doesn’t disclose its highest credit limit. The credit limit is the amount the lender allows you to spend each month and it’s determined by an applicant’s creditworthiness. Not everyone will receive the same limit. Your personal credit limit should be disclosed on your account or credit card statement.
Cardholders may be able to request higher limits in the future if there’s an income increase, credit score increase, or consistent payments. Your credit limit may decrease if you don’t pay your debts on time, take on more debt, or don’t use your card often.
Cardholders may receive automatic credit limit increases periodically, usually after at least six months of consistent payments for secured cards. However, users can ask for an increase online or over the phone if they think they should have a higher limit.
Bank of America offers a variety of personal and business credit cards with differentiating features.
Some of Bank of America’s personal credit card offerings include cash back, travel rewards, secured and student cards.
